You will be able to withdraw PF money from ATM, the process is easy, follow these steps
EPFO is constantly upgrading its service. In this sequence, it has introduced EPFO 3.0 update. This is a digital upgrade, which will help people to manage their PF account. Now people will be able to withdraw the amount present in their PF account just like banking services. This withdrawal will be instant, that is, now you are going to get rid of long lines. Union Labor Minister Mansukh Mandaviya himself has announced this. After the arrival of EPFO 3.0, users are going to get banking like facility.
What is going to be the specialty?
After the arrival of EPFO 3.0, users are going to get relief from long lines first. With its help, it is going to be easy to withdraw money. In this, users will not need to visit the EPFO office for the facility of withdrawing money with the help of ATM. With its help, you will not have to go to the EPFO office yourself. Also, you will not have to wait long in the lines. This special facility is being provided by EPFO.
Will not have to depend on the employer
Mansukh Mandaviya said that now users will not have to depend on the passbook. He can do all the work online for this. With the help of ATM, money will come in the hands of the users. You will not have to wait in long lines with filling the physical form. The work will be done with the help of UAN. Whereas earlier you had to depend on the employer. Now it is not so, the employee can manage this money himself.
What will be the benefit?
If we talk about the biggest benefit of EPFO 3.0, then the work of the users will be done with the help of ATM. With its help, you can do direct management of the account. With the help of this, emphasis will be laid on making the entire process digital with the help of all documents including Aadhar card, PAN. If you use this service, then you will not have to depend on the employer for withdrawal and other things. There is also a complete process for authorizing the payment, paying the claim and changing the personal data. With its help, a lot of time will be saved.
How will the work be done?
Actually, both NPCI and EPFO will work together for this entire process. An easy process has been created to reduce fraud and risk. For this, you will have to go with 2 step authentication and real time alert. This entire system has also been improved for UPI based fund transfer. Along with this, banking system will also be included in it now.
Where will you be able to withdraw money?
If you also want to withdraw money, then you will have to go to the ATM approved by EPFO. To withdraw PF money, you will have to use EPFO card. With the help of this card, you will get money exactly like you get when you withdraw money from ATM. You will be able to get money easily by entering the PIN. Here you will also have to select the amount which you want to withdraw.
